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Samper City started business on January 1, 2013. During the year, the company performed services for a particular customer totalling $250,000, of which 40% remain
Samper City started business on January 1, 2013. During the year, the company performed services for a particular customer totalling $250,000, of which 40% remain uncollected at the end of December. The customer has recently filed for bankruptcy. Under accrual accounting, what are the net amounts that impact the financial statements for 2013? statement of earnings: $250,000; statement of cash flows: $150,000 statement of earnings: $250,000; statement of cash flows: $250,000 statement of earnings: $150,000; statement of cash flows: $150,000 statement of earnings: $150,000; statement of cash flows: $250,000
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